In addition to complying with requirements concerning age, criminal history, education, discharge from the military (if applicable), and other requirements, a security guard agency in Michigan must furnish the Department of Licensing and Regulatory Affairs with evidence of a $25,000 surety bond.
AmeriPro Surety Bonds offers you this bond as both a new (first time) or renewal surety bond.
The $25,000 Michigan security guard agency bond will typically cost an applicant anywhere between 1-4% of the bond’s face amount.
The determining factors for the premium of this surety bond are:
While the bond amount is a general rule, amounts will vary based on the above criteria.
Once issued, the surety bond is active for one year and thereafter must be renewed.
According to Section 338.1059 of the Michigan Legislature, the Michigan security guard agency bond is a financial guarantee which is for the protection of the people of the state of Michigan.
The bond protects Michigan residents from wrongful and harmful acts committed by a security guard agency or its managers or employees.
The existence of the bond allows those who can credibly demonstrate harm to file and be paid claims; however, as the principal of this bond (its owner) you are responsible to reimburse the surety for any fees paid against your bond should that occur.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary bonds throughout Michigan.
Our surety bond agency also provides surety bonds nationwide.
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